Uniswap’s L2 protocol, Unichain, has advised users who bridged to return to the Ethereum mainnet and disabled RPC access after a public leak.
A public leak in the crypto space is defined as a situation when private information about cryptocurrency is made public, which can result in the loss of users’ financial security and cryptocurrency assets.
However, the impact of this public leak was not seen on the native currency of Uniswap. The UNI token had continued with its upwards trajectory during the trading day, likely following the optimism in the broader market and a rise in Bitcoin price.
Unisawp Faces Public Leak
The decentralized exchange in its X post revealed that:
“Some details for early developer access to Unichain mainnet have circulated publicly.
But Unichain mainnet is not live — and the canonical bridge has not been finalized Since it is not ready for public use, the RPC for this developer access period has been disabled.
Until then, users who bridged can still withdraw to Ethereum Mainnet”
In a field where frontrunning new chains is normal, the project is currently facing criticism for the messaging surrounding the decision to take its public RPC offline.
UNISWAP Token: Will It Keep Rising?
Despite the negative news, Uniswap token still surged and continued its trading in the green territory. At press time, the coin was trading at $9.19, up over 2.1% as compared to the same time last day.
With this current surge, market is currently anticipating that by December 12, the price of Uniswap will have increased by 130.89%.
At present, the Fear & Greed Index for the coin is currently at 69 (Greed), and the sentiment is bullish. Over the past 30 days, Uniswap has experienced a price volatility of 7.73% and 16/30 (53%) green days.
Of the technical analysis indicators for Uniswap, 27 indicate bullish signals, while four indicate bearish signals. With more than half of the indicators showing positive signals, investors and traders have started placing bigger bets on the coin.
Market participants also predict that Uniswap’s 200-day SMA will increase over the course of the upcoming month. During the same course of time, Uniswap’s short-term 50-Day SMA is predicted to reach $11.38.
In order to ascertain whether a cryptocurrency is oversold (below 30) or overbought (above 70), the Relative Strength Index (RSI) momentum oscillator is a commonly used indicator. by the crypto market. The UNI market is currently in a neutral position, as indicated by the RSI value of 64.37.